Scout Clean Energy obtains USD-100m loan for securing equipment supply
Summary
US renewable energy company Scout Clean Energy on Monday said it has closed a USD-100-million (ERU 93.5m) equipment supply loan with Dutch multinational bank Rabobank to fund down payments for equipment for its near-term advanced-stage pipeline.Colorado-based Scout, a portfolio company managed by Brookfield Asset Management, plans to increase the facility to USD 200 million by engaging additional banks later in 2024.With this new credit facility, we plan to aggressively push Scouts growth pipeline in wind, solar and battery storage encompassing over 19,000 MW of planned renewable energy build across 22 states," said Scout chief financial officer John Clapp.Scout, which was acquired by Brookfield in early 2023, says it has about 1,000 MW of wind assets in operation and under construction, as well as a pipeline of over 19,000 MW of wind, solar and storage projects, including more than 2,200 MW of advanced-stage projects. "This financing marks the continued maturation of Scout Clean Energy as a leading fully integrated renewables IPP [independent power producer]," Clapp commented.Choose your newsletter by Renewables Now. Join for free!